Nexo Under Investigation in Bulgaria for Alleged Money Laundering, Tax Offenses
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Loading... - Geny Flavia
- 30 Mar 2023
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Amid official reports that the crypto lender is under investigation in Bulgaria, Nexo insisted that it has followed AML and KYC rules.
Crypto lender Nexo has found itself the subject of a large-scale investigation in Bulgaria, as prosecutors look into possible money laundering, tax offenses, computer fraud, and other crimes.
Over 300 people are involved in the operation in the country’s capital city of Sofia, according to a statement by the Bulgarian Prosecutor’s Office. "Active investigation actions are underway in the capital to neutralize illegal criminal activity of the Nexo crypto bank," reads a rough translation of the statement.
Nexo lets users earn interest on their idle cryptocurrencies as well as take out crypto-backed loans for cash.
Officials also say they have evidence that at least one person who used the platform to transfer cryptocurrencies has been officially declared a financier of terrorist activities.
In a Twitter thread, Nexo said it was cooperating with the relevant authorities and regulators. The company also insisted it had always gone the “extra mile” to adhere to regulatory standards. Read More..
